City of Orlando and the State of Florida are competing with Nevada to land a new company that would bring Orlando 47 new jobs paying an average annual wage of $50,472 and a capital investment by the company in Orlando of $300,000.
The State of Florida will provide $235,000 to American Tours International, LLC under the QTI program and the City will pay $47,000 ($1,000 per job created paying an average annual wage of $50,472) over a six year period.
The average annual wage of $50,472 is at least 115% of the 2014 Orange County annual wage. The average value of benefits that will be available to employees is $6,314, which includes medical and dental insurance subsidy, 401K matching and an ATI educational subsidy. ATI’s total capital investment is estimated to be more than $300,000 in construction and equipment.
City staff is recommending this match because ATI is: 1) a targeted growth industry; 2) creating 47 new jobs; 3) investing over $300,000 in construction and equipment; and 4) considering other states for relocation.
The City of Orlando will benefit through the creation of 47 positions over the next five (5) years and the likelihood of continued job growth and investment well beyond this time frame. Florida's Qualified Target Industry Program includes strict accountability requirements of the applicant. The pledge of funds pursuant to this resolution shall be contingent upon American Tours International, LLC being qualified by the State of Florida as a QTI Program participant, meeting its job and wage obligations under the program and future budget appropriations by the Orlando City Council.
City staff is recommending this match because ATI is: 1) a targeted growth industry; 2) creating 47 new jobs; 3) investing over $300,000 in construction and equipment; and 4) considering other states for relocation.
The City of Orlando will benefit through the creation of 47 positions over the next five (5) years and the likelihood of continued job growth and investment well beyond this time frame. Florida's Qualified Target Industry Program includes strict accountability requirements of the applicant. The pledge of funds pursuant to this resolution shall be contingent upon American Tours International, LLC being qualified by the State of Florida as a QTI Program participant, meeting its job and wage obligations under the program and future budget appropriations by the Orlando City Council.
